Home > Pressrelease > Ethyl Methyl Carbonate Market worth over $6 Bn by 2032
Ethyl Methyl Carbonate Market worth over $6 Bn by 2032
- Published Date: January 30, 2023
Ethyl Methyl Carbonate Market size is projected to surpass USD 6 billion by 2032, according to a new research report by Global Market Insights Inc.
Robust investments in Asia Pacific nations in varied sectors, such as electric cars, 3C consumer electronics, and solar energy consumption, have impelled the demand for lithium batteries, which is foreseen to favorably impact product uptake. In addition, the presence of major lithium battery producers viz., LG Chem, Samsung, Panasonic, and others, as well as the rapid proliferation of EVs in China and India, has increased the need for new energy vehicle power batteries, which is estimated to drive the ethyl methyl carbonate market growth.
Furthermore, new product developments in the painting & coating sector as well as the electronics space are anticipated to support industry expansion through 2032. For instance, in April 2022, Biocoat, Inc., a coatings & coating equipment manufacturer, announced the launch of its new EMERSE equipment line, which provides companies with an in-house dip coating system to coat their medical devices and complete the manufacturing process.
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Increasing need to boost agricultural productivity to promote agrochemicals segment growth
As per application, the agrochemicals segment is poised to grow at a 16.5% CAGR through 2032. The segment growth is attributed to the rising demand for food grains resulting from the expanding population and shrinking arable land. This is escalating the need for maximizing agricultural output with an emphasis on the effective use of pest management methods.
Browse key industry insights spread across 185 pages with 174 market data tables and 37 figures & charts from the report, “Ethyl Methyl Carbonate Market Size by Application (Li-ion Battery Electrolyte, Chemical Solvent, Pharmaceutical Intermediates, Agrochemicals) COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 - 2032” in detail along with the table of contents:
Growing presence of foreign manufacturers to augment North America market share
North America ethyl methyl carbonate market is predicted to cross USD 650 million by 2032 as several foreign manufacturers expand their operations in the American countries owing to the high product demand from the solvents, pharmaceuticals, batteries, and paints & coatings sectors. For instance, in July 2022, Japan-based chemicals expert UBE Corporation planned to build a dimethyl carbonate (DMC) and ethyl methyl carbonate (EMC) production plant in Louisiana. This plant was purposed to enable consistent supply to clients while also helping the company scale up in the future through downstream growth into environment-friendly goods.
Burgeoning investment toward novel projects to define the competitive spectrum
Tangshan Solvents Trading Co., Ltd., Vizag Chemical, Mitsui Fine Chemicals, TCI America, Inc., Shandong Lixing Chemicals Co., Ltd., Mitsui Fine Chemicals, Merck, Liaoning Huifu Chemical Co., Ltd., and Wego Chemical Group are some major corporations engaged in the ethyl methyl carbonate market. These firms are focusing on product innovation, collaborations, and investments in novel technologies, thereby positively influencing the product landscape.